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Us Market's main indexes opened in the green, but have slipped fractionally off the session highs. The Spooze climbed to R2 (2108) and has since slipped to 2102. Closing above 2100 is necessary, say the analysts, to continue the rally. Short-term indicators are turning bearish in light of many investors taking profits.

$NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Following a major market correction, the conditions for safe re-entry are when:
a) Daily $OEXA200R rises above 65%
Secondary Bullish Indicators:
a) RSI is POSITIVE (above 50)
b) Slow STO is POSITIVE (black line above red line)
c) MACD is POSITIVE (black line above red line)

(Reuters) - Tesla Motors Inc's shares were down less than 1 percent in early trading on Friday, with at least one analyst saying that initial reaction to the first fatality involving its Autopilot system was based more on perception than reality.

LONDON (Reuters) - Investors will start to peek beyond the Brexit-dominated headlines in the coming week to gauge the outlook for the global economy, and what impact an expected rebound in U.S. job creation will have on central banks eyeing looser policy.

WASHINGTON (Reuters) - The U.S. economy has shown signs of improvement in recent weeks but the Federal Reserve expects it will take some time before it can assess the impact of Britain's vote to leave the European Union, Fed Vice Chair Stanley Fischer said on Friday.

LONDON (Reuters) - U.S. oil major Exxon Mobil and Britain's BP are at loggerheads over a giant oil production deal with Azerbaijan, blocking renewal of what was once called "the contract of the century", three high-level industry sources told Reuters.

WASHINGTON (Reuters) - U.S. factory activity expanded at a healthy pace in June as new orders, output and exports rose, new industry data showed on Friday, providing another sign that U.S. manufacturing was regaining its footing after weakness early this year.

In what turned out to be a case of morbid irony, last night we reported that Josh Brown, the 40 year old (non) driver of the Tesla which fatally crashed into a truck on May 7 in Florida while in self-driving mode when the car's cameras failed to distinguish the white side of a turning tractor-trailer from a brightly lit sky and didn't automatically activate its brakes, had as recently as a month earlier praised his "Tessy's" autopilot feature in a YouTube clip.

Tesla Model S autopilot saved the car autonomously from a side collision from a boom lift truck. I was driving down the interstate and you can see the boom lift truck in question on the left side of the screen on a joining interstate road. Once the roads merged, the truck tried to get to the exit ramp on the right and never saw my Tesla. I actually wasn't watching that direction and Tessy (the name of my car) was on duty with autopilot engaged. I became aware of the danger when Tessy alerted me with the "immediately take over" warning chime and the car swerving to the right to avoid the side collision.

He was so enamored with the feature, in fact, that as AP reported overnight, he was watching TV at the moment of the deadly crash.

Frank Baressi, 62, the driver of the truck and owner of Okemah Express LLC, said the Tesla driver was "playing Harry Potter on the TV screen" at the time of the crash and driving so quickly that "he went so fast through my trailer I didn't see him."

"It was still playing when he died and snapped a telephone pole a quarter mile down the ...

Despite - or perhaps due to - Italy's failed attempt to slide a state-funded 40 billion recapitalization attempt past Angela Merkel while blaming it on Brexit, and coupled with a bailout proposal to provide 150 billion in liquidity to insolvent banks, overnight we got yet another confirmation that the biggest risk factor for Europe is not Brexit but Italy, where yet another failed bank was bailed out. As the FT reports overnight, Atlante, Italy's privately backed 5bn bank bailout fund which was created in April to stem the threat of contagion from struggling lenders and whose assets turned out to be woefully inadequate, took control of Veneto Banca after a 1bn capital increase demanded by EU bank regulators attracted zero interest.

This is good news for Veneto Banco and bad news for all other insolvent banks, because the fund, known as Atlas in English, was intended to hold up the sky for Italian banks. Instead it is now practically out of funds, having depleted more than half of its war chest after taking control of Popolare di Vicenza, another regional bank, last month.

That has left little in reserve to tackle about 200bn in non-performing loans run up during Italy's three-year recession, of which 85bn have not yet been written down. Bad loans are weighing on bank lending and crimping an already weak recovery.

As the FT adds, Lorenzo Codogno, an economist and former treasury director-general, said: "Italian [and to a lesser extent European] banks have entered into a negative loop where they cannot ask for private capital as there is no investor appetite and without capital they cannot provision or write off NPLs."

This means the only hope is public-funded bailouts, however that is banned by eurozone regulations. ...

U.S. stocks climbed Friday and the three main indexes were on track to book a fourth straight day of gains as better-than-expected manufacturing data combined with easing fears about the U.K.'s decision to leave the European Union fostered buying appetite.

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